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by jeffmould
5706 days ago
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Do you need outside investment to continue development and launch your app or can you bootstrap the launch? Create a list of wants/needs for your app. The wants is all the features and functionality of the app that you envision. The needs are the ones that get you to a MVP. What is it going to take to launch this app? Does it require outside sales, an infrastructure build-out (servers, storage, offices), major marketing effort? Assuming you have a MVP, I would start marketing the app to your target market. Get some traction and even some paying customers under your belt. Get feedback from these customers, reassess your wants/needs list based on that feedback. At the same time, begin working on a presentation for potential investors. You should treat your friends/family investment the same as you treat any angel investor. Make sure all the documents are in place, whether the investment is via convertible or straight out equity. Having your friends/family invested, a MVP, and some traction will make getting angel investment a lot easier. It proves you can execute on your idea and that there is a market for your product. |
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I have a marketing buddy who believes the best course of action would be to polish up an amazing presentation of mock ups and present it to some angels because the site will probably be rebuilt after receiving major funding anyway.
I've been operating under the idea that it's better to get something out as inexpensively as possible and see how people respond before getting heavily invested in the concept. That sounds like what you're advocating.